v3.24.2.u1
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Note 5 – Goodwill and Intangible Assets
Goodwill
The following table presents the changes in the carrying value of goodwill by segment for the six months ended June 30, 2024 (in millions):
MobilityDeliveryFreightTotal Goodwill
Balance as of December 31, 2023$2,337 $4,369 $1,445 $8,151 
Foreign currency translation adjustment(65)— (3)(68)
Balance as of June 30, 2024$2,272 $4,369 $1,442 $8,083 
Intangible Assets
The components of intangible assets, net were as follows (in millions, except years):
Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
December 31, 2023
Consumer, Merchant and other relationships$1,800 $(697)$1,103 8
Developed technology890 (621)269 5
Trade name, trademarks and other154 (101)53 4
Intangible assets$2,844 $(1,419)$1,425 
Gross Carrying Value
Accumulated Amortization
Net Carrying Value
Weighted Average Remaining Useful Life - Years
June 30, 2024
Consumer, Merchant and other relationships$1,790 $(790)$1,000 8
Developed technology890 (663)227 4
Trade name, trademarks and other146 (108)38 4
Intangible assets$2,826 $(1,561)$1,265 
Amortization expense for intangible assets subject to amortization was $91 million and $70 million for the three months ended June 30, 2023 and 2024, respectively. Amortization expense for intangible assets subject to amortization was $184 million and $154 million for six months ended June 30, 2023 and 2024, respectively.
The estimated aggregate future amortization expense for intangible assets subject to amortization as of June 30, 2024 is summarized below (in millions):
Estimated Future Amortization Expense
Year Ending December 31,
Remainder of 2024$136 
2025248 
2026186 
2027171 
2028127 
Thereafter395 
Total$1,263